For the last quarter of 2021, compensation costs were up 1% for civilian employees, according to the latest report from the U.S. Bureau of Labor Statistics. Wages and salaries jumped 1.1%, while benefits costs went up 0.9%. This follows a record-setting 1.3% total compensation increase for the previous three-month period (ending September 30, 2021).
Private industry compensation rose 1.2% in the final quarter of last year, with some of the greatest compensation gains in retail trade (2.4%), service occupations (1.8%), and health care and social assistance (1.6%).
Meanwhile, compensation went up 0.7% in state and local government. Health care and social assistance (1.3%) and service occupations (0.9%) had the biggest jumps for the quarter.
Compensation increased 4% over the course of 2021, a jump from 2020’s 2.5% increase. During the 12-month period ending on December 31, 2021, wages and salaries went up 4.5% (compared to 2.6% in 2020), and benefits costs went up 2.8% (compared to 2.3% in 2020).
